Business Services Industry
Dallas-Based Communications Equipment Firm to Buy California Company.
Knight Ridder/Tribune Business News, November, 1999 by Files, Jennifer
Knight Ridder/Tribune Business News
Nov. 23 -- Dallas-based Efficient Networks Inc. said Monday that it will buy Santa Clara, Calif.-based FlowPoint Corp. for $1.1 billion in stock.
Both companies sell digital subscriber line modems and related equipment. FlowPoint's products are used mainly by businesses, while Efficient's main market is residential. Telephone companies such as SBC Communications and Bell Atlantic buy their equipment to use when installing DSL service.
"We have some overlapping customers, but the majority are different," said Efficient president and chief executive officer Mark Floyd.
FlowPoint's parent company, Cabletron Systems, had been trying to divest parts of its business, and Mr. Floyd approached the company...
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